– Nobody panic. The government may be spending its last dime on the bailout package, but it’s apparently filthy rich with stockpiles of Tamiflu. We’ve been told that officials can mobilize ventilators on the turn of a dime (which is supposed to be reassuring). And the cases of swine flu confirmed at St. Francis Preparatory School in Queens appear, so far, to be relatively mild.

Mike: Obama must not think this is a cause for alarm, since he was out golfing on Sunday. Everyone needs a break now and then, but the timing of this shows a lack of concern about a quite serious flu situation. I think that those who make it to the top of either corporate of government entities become disconnected from the people they are appointed or elected to serve. They are crowded by the safe, wealthy and elite that don’t feel the same pain or anguish that affects the average citizen. They are secluded from reality and take on a nonchalant attitude toward lethal or potentially lethal disasters. Does anyone remember Bush and Katrina?

“We are closely monitoring the emerging cases of swine flu in the United States,” Mr. Obama said, speaking at the National Academy of Sciences. “This is obviously the cause for concern and requires a heightened state of alert, but it’s not a cause for alarm.”

Mike; While I don’t plan to panic or change my usual behaviors, I will be using my Purell antibacterial l with greater frequency, even if it’s only marginally helpful in preventing transmission.

What I found odd was I typed “flu” into Google search and 90% of the stories that appeared were about how this flu bug is affecting stock markets and company profits, while little is found to give people the news they need to know in order to prevent transmission or prepare for the possibility of contracting the flu. It shows that media is more concerned about corporate profits than public health.

The economic calendar for Monday is light for unemployment news, but there is still the matter of the survival of the auto manufacturers. Chrysler has reached an agreement with it’s US and Canadian unions detailing salary and benefits reductions, which were required by Fiat if they were to partner with Chrysler. At least Chrysler is likely to survive in some form and hopefully GM can do the same, but they will never be the great companies they once were and that’s a shame.

-DETROIT – General Motors Corp. said it will cut 21,000 U.S. factory jobs by next year, phase out its storied Pontiac brand and ask the government to take company stock in exchange for half GM’s government debt as part of a major restructuring effort needed to get more government aid.

– DETROIT — General Motors Corp. [GM-N] said it will cut 21,000 U.S. factory jobs by next year, phase out its storied Pontiac brand and ask the government to take company stock in exchange for half GM’s government debt as part of a major restructuring effort needed to get more government aid.

Mike: The following article is very important when considering how stimulus funds are supposed to create US jobs. Unfortunately, the main stream media plays no role in bringing people the truth about companies sending millions of jobs overseas. I am not a protectionist, but I get riled when I see companies suck billions from taxpayers and then send the jobs created by the taxpayer offshore. I would propose that ANY company that takes ANY federal, state or local stimulus be stripped of those stimulus funds if they send jobs offshore. Why should the US taxpayer pay to send jobs offshore? For companies that do so it’s unethical, dishonest and a theft of taxpayer dollars.

– BANGALORE: As the Obama government gets ready to raise a protectionist wall against offshoring, the US firms seem to be shipping more jobs to India.

“We see the (green job offshoring) trend increasing as the US and the UK outsourcing buyers are seeking lower cost in labour and energy consumption. There are few suppliers who match credentials and outcomes of Indian firms,” he said.

– Employers took 2,933 mass layoff actions in March that resulted in the separation of 299,388 workers, seasonally adjusted, as measured by initial claims for unemployment insurance benefits filed during the month.

– Chrysler cleared a major hurdle in its bid to stave off bankruptcy by reaching key labor deals Sunday with its unions in the U.S. and Canada.

A tentative pact with the United Auto Workers — details were undisclosed — came just hours after membership of the Canadian Auto Workers union ratified a deal late Sunday that could save Chrysler close to $200 million a year.

Mike: So the feds/taxpayer give JPMC billions in bailout and a “lucky” state will be giving them millions in tax breaks to get back a small percentage of the jobs they cut last year. The theft from the taxpayer continues unabated. Banks the size of JPMC should be dismantled into smaller entities so their size cannot be too big to fail:

– The state of Ohio has approved awarding JPMorgan Chase approximately $13 million in tax incentives that could bring 1,150 jobs to the area. The bank hasn’t formally committed to doing so just yet and is considering incentives from other states.

– Tiffin Mayor James Boroff previously announced reductions in hours for some employees and an initial round of layoffs, including one police officer. Most of those changes were set to take affect about next Sunday. The latest announcement outlines a broader set of cuts, with the additional layoffs or pay reductions to take affect sometime between May 3 and May 17.

– FALLS CREEK -The economy has led the Clearfield-Jefferson Counties Regional Airport Authority to eliminate the positions of marketing director and line serviceman. Additionally, the authority’s nine remaining employees were cut back to a 35-hour work week.

– Thursday, TRW announced it will permanently close its manufacturing plant in the Village of Ettrick in Trempealeau County. Around 75 people work at the plant, which makes auto parts. The village president says the plant once employed around 300 people, which is more than half of Ettrick’s population.

-LOS ANGELES — The business magazine Portfolio is closing down and laying off more than 80 people, just two years after launching with $100 million in backing and visions of becoming a high-end rival to the likes of Fortune, Forbes and BusinessWeek.

– CANTON, Ohio — Bearings and specialty steels maker Timken Co., which has a plant in East Knox County, indicates it will cut about 4,000 more jobs by the end of this year.

Canton, Ohio-based Timken said Monday it expects to end this year with 7,000 fewer employees than it had at the start of 2008, equivalent to a 25 percent reduction in the company’s work force. Timken announcements earlier this year suggested about 3,000 jobs had already been targeted.

– MILAN, April 26 (Reuters) – Fiat’s Iveco unit plans to cut about 1,000 jobs at a plant in Spain to reduce costs in the face of a severe sales slump, a spokesman for the truck division said on Sunday.

– Macmahon Holdings Ltd has cut its profit forecast for the 2009 financial year and axed another 360 jobs, predicting a further slowdown in its mining services business following a sharp deterioration in market conditions.

– Last week, according to company sources, an indefinite number of employees have been laid off by the company. An employee, who has been laid off says, “Last week, around 300 employees were laid off on one single day.”

– The Department of Defense employs more than 700,000 civilians in an array of critical positions worldwide, with opportunities for people from all walks of life. If a competitive salary, great benefits, unsurpassed training, and the pride of defending our nation interests you, then find your future with us.

– A number of provisions to help the unemployed are included in the American Recovery and Reinvestment Act (ARRA), and here’s a list of some of the major benefits. Offerings vary greatly by state, so check with your local unemployment office to find out what exactly is available to you.